Despite short-term obstacles driven by high inflation and interest rates coupled with supply chain issues, we maintain that the foundations supporting long-term offshore wind activity remain solid. As we prepare for the new year, let us look…
Garnering power from ocean waves is a generation behind the progress of offshore wind, but Mocean Energy, led by founder and managing director Cameron McNatt, is aiming to help offshore companies power up it’s offshore and seafloor assets with its Blue Star system…
The WECHULL+ project, co-ordinated by RISE Research Institutes of Sweden, has received a $2.7 million grant from the European Union to develop novel floating structures based on high-performance concrete for offshore renewable energy sector…
Gazelle Wind Power and Tugdock have signed a memorandum of understanding to co-develop a modular offshore wind assembly system which could drive down costs and increase production of floating offshore wind farms.The first project for the new partnership will be Italy’s largest offshore wind farm…
Australian oil and gas major Woodside has awarded a major contract to Mexican company Eseasa Offshore for the supply of shore base facilities and services in support of the the Trion oil and gas project offshore Mexico.Eseasa will provide a…
2023 has been another noteworthy year for the rig market’s ongoing recovery, with a 3% increase in global marketed utilization versus 2022, a demand increase of 29 rigs, a 7% uptick in average contract duration, 16 further reactivations and newbuild deliveries…
Global oil benchmark Brent topped $80 a barrel on Wednesday amid jitters over global trade disruption and geopolitical tensions in the Middle East following attacks on ships by Yemen's Iran-aligned Houthi forces in the Red Sea.Brent crude futures LCOc1 rose 89 cents…
The Biden administration on Wednesday will hold an auction of oil and gas leases in the Gulf of Mexico following several delays due to litigation over the drilling industry's impact on an endangered species of whale.The sale will likely be the…
Van Oord has completed the installation of all 50 foundations and inter-array cables for Baltic Eagle offshore wind farm, located offshore Germany.Earlier in 2023, heavy-lift installation vessel Svanen installed the monopiles. The wind turbine…
Solstad Offshore has exercised its option to purchase the construction support vessel (CSV) Normand Tonjer.The vessel was bought from the Norwegian Mpsv for the net amount of $4 million.In 2021, Normand Tonjer was sold to Mpsv for a gross amount…
Hitachi Energy and Petrofac have secured a second project under a $14 billion, multi-year framework agreement with the Dutch-German transmission system operator (TSO) TenneT to expand offshore wind capacity in the North Sea.This second contract is for Nederwiek 1…
The Hollandse Kust Noord offshore wind farm, built by CrossWind, a joint venture between Shell and Eneco, has started operating in the Dutch North Sea.The Hollandse Kust Noord offshore wind farm, located 18.5 kilometers off the coast, became operational on December 20…
Offshore seismic data firm TGS has secured an Ocean Bottom Node (OBN) data acquisition contract in the North Sea.The three-month OBN data acquisition contract is for a repeat customer, according to TGS.The project's acquisition is planned to begin in the second quarter of 2024…
Shell Offshore, a U.S. subsidiary of Shell, has reached the Final Investment Decision (FID) for Sparta, a deepwater development in the U.S. Gulf of Mexico. Owned by Shell Offshore (51% operator) and Equinor Gulf of Mexico (49%), Sparta is expected to reach a peak production of approximately 90…
Dutch lender ING will stop financing oil and gas exploration and production by 2040 and triple new lending to renewable energy over the next two years as part of an updated climate strategy, the bank's chief executive told Reuters.Investors…
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